Word: tradings
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Dates: during 1980-1989
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Whatever the prospective economic gains, many Canadians fear the elimination of tariff and trade barriers with the U.S. will mean a far more portentous loss -- namely, national sovereignty. Canadians have long been worried that free trade would mean a kind of integration with America's economy that would wrest self-determination from Canadian industry. As far back as 1911, the government of Liberal Prime Minister Sir Wilfrid Laurier fell over a free-trade agreement -- an episode that gave birth to the slogan "No truck nor trade with the Yankees...
...Broadbent, 52, and also oppose the pact. Tussles over such subjects as the Tories' plans for a $8 billion fleet of nuclear-powered submarines or the multitude of corruption scandals that have plagued the Mulroney government are only incidental entertainments amid the imbroglios over free trade. And because the issue touches the core of Canada's sense of itself as a nation and its psychic separation from the U.S., the topic is dangerously flammable, an invitation to a spark...
Extinguishing that spark will be no small task, since Mulroney called the election in part to force passage of the trade pact in the Liberal-controlled Senate. Though Mulroney sought to turn the race into a referendum on his leadership, the trade issue has not only dogged him but has also put him in a seemingly contradictory situation. While he is running as the man who led Canada into an era of sunny prosperity, he is also campaigning on the claim that free trade is the sine qua non of Canada's economic future...
...second consecutive term. A Gallup poll estimated that the Tories would claim roughly 40% of the vote -- enough to win 193 of the House's 295 seats -- with the New Democrats running at 29%, and Liberals at 28%. But Gallup also reported that 42% of Canadians oppose the free-trade agreement, 34% support it, and almost a quarter of the country is undecided. After the debate, the respected Angus Reid poll found the race had been transformed into a dead heat, with Liberals and Conservatives tied at 35%. Opposition to the trade pact soared...
...well Mulroney fares in the postdebate politicking will depend on his ability to handle the trade issue. On a purely economic basis, many experts agree, the pact between the two countries, whose bilateral trade of $132.5 billion last year was the most of any two partners in the world, should be attractive to the public. The average tariff on American goods entering the Canadian market is 2.8% -- the figure is low because 65% of American imports pass duty free. On goods entering the U.S., the average tariff is only 1.2% (80% of Canadian imports are duty free), so Canadian consumers...